CSF Fees and Costs — VictoryShares US Discovery Enhanced Volatility Wtd ETF
Data updated: 2025-05-29
The net expense ratio is 0.41% (0.53% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $178K in broker commissions, 0.3147% of average net assets, and portfolio turnover was 198%.
CSF Fees and Expenses
Annual operating expenses and sales charges of CSF. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | — |
| Other expenses | 0.17% |
| Gross expense ratio | 0.53% |
| Fee waiver | −0.12% |
| Net expense ratio | 0.41% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
CSF Costs Over Time
On $10,000 invested in CSF, assuming 5% a year before costs, total costs come to $456 over 5 years, cutting the return by 0.76% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.41%) | $43 | $135 | $234 |
| Trading costs (broker commissions) | $33 | $103 | $180 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $76 | $250 | $456 |
| Value after costs | $10,424 | $11,326 | $12,307 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
CSF Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.3147%
- Total broker commissions: $178K
- Bought from dealers (principal trades, not a cost): $25.2M
- Portfolio turnover (prospectus): 198%
- Securities on loan, average value: $294K
- Net income from securities lending: $4K (0.007% of average net assets)
CSF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Susquehanna Securities | $90K | 50.77% |
| Citadel Securities LLC | $87K | 48.75% |
| BofA Securities, Inc. | $300 | 0.17% |
| Academy Securities Inc. | $211 | 0.12% |
| RBC Capital Markets, LLC | $162 | 0.09% |
| Goldman Sachs & Co. LLC | $83 | 0.05% |
| J.P. Morgan Securities LLC | $44 | 0.02% |
| Citigroup Global Markets Inc. | $40 | 0.02% |
| Jefferies LLC | $9 | 0.01% |
CSF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $14.2M | 56.15% |
| RBC Capital Markets, LLC | $8.6M | 34.15% |
| Virtu Americas LLC | $2.4M | 9.50% |
| Goldman Sachs & Co. LLC | $50K | 0.20% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.